Bloomberg News

Germans Still Favor Cash Over Cards for Payment, Bundesbank Says

October 17, 2012

Cash remains Germans’ preferred method of payment, according to a Bundesbank study.

More than half of all purchases, 53 percent, are paid for in cash, followed by debit cards at 28 percent and credit cards with 7 percent, the Frankfurt-based Bundesbank said today. A similar survey carried out four years ago found that 58 percent of all transactions were settled in cash and 25.5 percent by debit cards, the Bundesbank said.

Germans on average carry 103 euros ($135) in cash on their person, down from 118 euros in 2008, the study found.

To contact the reporter on this story: Gabi Thesing in London at gthesing@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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